Bulgarian commercial bank Unionbank said it had signed a Ђ5.0m (US$6.6m) credit line agreement with the Black Sea Trade & Development Bank (BSTDB) that will allow it to provide financing to small- and medium-sized enterprises (SMEs).
"The credit line will be used to finance projects and investment programmes and to secure working capital for SMEs," Unionbank said in a statement. The bank added that the credit line was for a maximum period of four years. It followed a US$2.0m credit line extended by BSTDB in 2003 and fully redeemed in June.
BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine.
